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It has got to be a zero sum game. At some point it collapses and all these wonderful 'profits' are paid for, primarily by people who don't appreciate that it's a zero sum game.

Dotcom was another famous bubble that burst, but if you look at the stock charts of Apple and Amazon the DC crash is now barely visible (although significant at the time). Blockchain technology has real world applications and it's not going anywhere; that said, 90-95% of the current shitcoins and tokens with ridiculous market caps that people are investing in will likely fail, so it's about finding the winners long term (or day/swing trading the rest near-term!).

So, I figure it's time to diversify with some alt-coins. Can somebody give me the absolute dumbed downed version of how to do this. It's probably explained somewhere in this thread but I'm too lazy to go thru it all.

Everywhere I look on how to go about this seems to be geared towards people that know all about it already. So, it seems I need to get a wallet and then an exchange account. I know that exchanges only deal with certain coins, so you probably need a couple of exchange accounts but do the wallets handle any coin?

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“Tragedy is when I cut my finger. Comedy is when you fall into an open sewer and die.” - Mel Brooks

So, I figure it's time to diversify with some alt-coins. Can somebody give me the absolute dumbed downed version of how to do this. It's probably explained somewhere in this thread but I'm too lazy to go thru it all.

Everywhere I look on how to go about this seems to be geared towards people that know all about it already. So, it seems I need to get a wallet and then an exchange account. I know that exchanges only deal with certain coins, so you probably need a couple of exchange accounts but do the wallets handle any coin?

I’ll tell you what I did. Doesn’t mean it’s the best way but it worked so far.. I did read a fair bit of reviews etc and there are some horror stories of hacking, lost coins etc so stuck to the main and highest rated exchanges but it’s risky so be prepared to lose all your money!

You can buy basically all crypto with bitcoin ans most with Ethereum. I went with Ethereum because it’s quicker and seemed slightly more stable at the time.

So I went to Coinbase.. you can buy bitcoin and Ethereum with sterling there. Upto £500 instantly with a debit card and more with bank transfer. I did both, less fees transferring but it takes 24hours or so.. possibly more. It all went smoothly though.

Coinbase only do eth/btc/ltc and bitcoin cash now. If you want the high risk potential high gain alt coins you’ll need to go to other exchanges.

First I went to bitfinex as I wanted iota as my long term lottery ticket. Use the help etc but you get an address from bitfinex for your eth (or bitcoin) wallet, copy that, go to Coinbase and send your eth/btc to that address. 15mins to 12hrs later! It’s in you bitfinex exchange and you can trade.

Same thing for Binance. Binance has more currency available for eth. Be carful to check that what you want to buy is available for eth if you want to use that rather than btc. Most if not all can be bought for btc

Everything... literally everything in crypto is delayed at the moment. You will have to go thorough lengthy registrations with some exchanges for security etc but can trade but not withdraw before these are complete. Last I heard bitfinex and Binance were not accepting new registrations due to high demand but will again soon.

Don’t invest what you can’t afford to lose. I’m 50% sure I lose it all...80% sure I lose some. 19% I might make some...1% I could make a decent amount! It could pop any day. Do your research... hundreds of shit coins about promising the world but really just online pyramid scams. A handful of real exciting tech, that may or may not get adopted and go big

Edit.. sorry funk, too dummed down for you! You are talking wallets and diversity not that basic. A few of the kids at work are talking about getting rich with crypto and just said all this to them because they can’t afford it and basically think it’s guarantee! Got a bit type happy while having a poo! Haha.. hope it answers the question though

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It's a old story but if i could change the username i would... ok?!